US EditionFed holds rates steady but sees first double dissent in three decades
- The Federal Reserve kept interest rates unchanged at 4.25%-4.5% during its Wednesday meeting in Washington, D.C.
- The decision came despite strong calls from President Trump and two Republican-appointed Federal Reserve governors who advocated for a reduction in interest rates.
- Fed Chair Jerome Powell adopted a cautious tone, signaling the committee is waiting for clearer inflation data and the impact of tariffs before cutting rates.
- Investors were pricing in just over a 50% probability that interest rates would remain unchanged following the meeting, while dissenting votes from Waller and Bowman favored reducing rates, marking the most significant FOMC disagreement since 1993.
- The hold on rates is expected to persist until September, implying limited near-term relief for borrowers amid high credit card rates near record highs.
366 Articles
366 Articles
The US Federal Reserve Fed does not lower the key interest rate, which makes Donald Trump angry. The US President vilifies their boss Jerome Powell with insults and demands his resignation again. But he can't order them.
When Will Trump Fire Powell?
(Washington, DC) – It remains murky as to whether or not President Trump has the ability to fire Federal Reserve Chair Jerome Powell. On a straight-forward basis, the Fed chair is not subject to termination — but rather serves out a specific term, after being appointed. And, during first term, Trump appointed Powell. His term is up in another nine months. But there’s another possibility. Namely, any cental bank chair can be fired “for cause,” an…
Trump Lashes Out at Fed Chair with Stream of Insults
“President Trump on Thursday unleashed a fiery reaction after the Federal Reserve held interest rates steady, blasting Fed chair Jerome Powell with a stream of insults and suggesting corruption in the renovation of the central bank’s headquarters,” Axios reports. Said Trump: “He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL to have the job of Fed Chair.”
The US Federal Reserve leaves interest rates unchanged. But for the first time in over 30 years, two members vote against the decision – and now questions are being raised about political influence.
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